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At HospitaPs request, CCF will work with dle Hospital to establish jo <br />operation of specialty services;. which wilfbe consistent with strategic <br />plan and budget established by CCF <br />HI riosprtal=S request, CCF and the Hospital wilt work together to <br />establish medical educational programs with the Hospital as a residency <br />rotation site <br />---c-'-. „_q•*-~•, ~~-a w~u ~v~Nitnl W ln: ~olllily eSlatlttSn. pr0~+raln,S't0 <br />improve administrative efficiency and cost reduction and other <br />clinical/administrative services <br />....,,..u.,v.: -- i.~~pitar wru <br />maintenance of insurance <br />l . ,Rate. Covenant -Hospital will Opel ate: <br />lYetItoornu -f T3 reCitltiotz ~- 7nt5t <br />TttterCst-~ Princtpat t'ateu#s > 1.2 <br />2. Additional Hospital Deht <br />(a) Long-term debt <br />Hospital. may incur debt if rate covenant test is met and will be <br />met in the Future <br />(b) Shdtt-term Hospital Debt <br />Refinancing indenhire permits debt 'in an vnouut 'up to IS% of <br />operating revenues for working, capital needs. The amount is <br />..w....__..~3 te. , __ . <br /> <br />revenues for at <br />As cif December 31., 2008, the. Hospital had not been iu <br />compliance with. die debt service coverage requirement. <br />T.he corective action required by the trust indenture <br />obligated the Hospital to emp]oy a consultant to make <br />rewmmendations regarding this matter. Management <br />engaged a consultant and reviewed the recommendations, <br />portions of which: were incorporated into the revised VFT <br />plan described in response to iteln'}„l t. As bl`'I~eUelnb~Y' <br />31, 2009, the Hospital was again ngt'.itt ~r~mplianec,wjttr:;he <br />debt service coverage requirement. ~ltliouglr the Corrective <br />action required by the Trust Indenture would have obligated <br />the Hospital to reengage a consultant, it was felt that <br />repeating the process so soon was unnecessary; <br />I'aee 1 1 <br />